Cedar Fair (NYSE:FUN) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Cedar Fair, L.P. (NYSE:FUN) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $45.41 and traded as high as $48.67. Cedar Fair shares last traded at $47.77, with a volume of 907,521 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on FUN shares. Guggenheim upped their price target on shares of Cedar Fair from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. StockNews.com upgraded Cedar Fair from a “sell” rating to a “hold” rating in a report on Thursday, December 26th. Deutsche Bank Aktiengesellschaft lowered their price target on Cedar Fair from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Citigroup increased their price objective on Cedar Fair from $53.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Oppenheimer lowered their target price on Cedar Fair from $67.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.07.

Cedar Fair Price Performance

The company’s 50-day simple moving average is $46.04 and its 200 day simple moving average is $45.41. The company has a market capitalization of $4.79 billion, a P/E ratio of -74.64 and a beta of 1.58. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.95.

Hedge Funds Weigh In On Cedar Fair

Hedge funds have recently bought and sold shares of the business. Torno Capital LLC bought a new stake in shares of Cedar Fair during the 2nd quarter worth about $4,413,000. Mutual of America Capital Management LLC acquired a new stake in Cedar Fair in the 3rd quarter worth approximately $260,000. Benjamin F. Edwards & Company Inc. boosted its position in Cedar Fair by 94.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after purchasing an additional 1,400 shares during the period. Commonwealth Equity Services LLC grew its holdings in Cedar Fair by 4.6% during the second quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after purchasing an additional 826 shares during the last quarter. Finally, S.A. Mason LLC raised its position in shares of Cedar Fair by 63.1% in the third quarter. S.A. Mason LLC now owns 993 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the period. 64.65% of the stock is owned by institutional investors and hedge funds.

About Cedar Fair

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.